By Andrew Rosen via Iris.xyz

Talking about one’s own mortality, or the mortality of a loved one, is not something anyone really ever wants to do. It can be depressing, morbid, or even gruesome planning the specifics of a tragedy’s aftermath. Sadly, Estate Planning is one of the most commonly neglected areas seen in my financial planning practice on a day-to-day basis. Everyone needs a solid estate plan – which includes wills, living wills, trusts, health care & financial proxy.

It may not be fun to do or talk about; however, it doesn’t diminish the importance. Because it is so important, I’ve put together this list of the top 12 estate planning pitfalls I see on a regular basis.

1. No Estate Plan:  
This one seems obvious right?  Countless people walk in my office with no estate planning whatsoever.  I don’t simply mean the 22 year old, fresh-out-of-college individuals either.  Rather, I’ve seen well established families whose lives would be crushed should something unfortunate happen.

2. The DIY Estate Plan:
I’ve seen many do-it-yourself estate plans, such as through a service like Legalzoom.  Believe it or not, I once saw an estate plan on a cocktail napkin!  Like many things in life, the costs saved doing it yourself usually are quickly erased by the mistakes often made.

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